Monday, Apr. 10, 2023–9:27 a.m.

-David Crowder, WRGA News-

Georgia gas prices are on their way back up.

Drivers are now paying an average price of $3.37 per gallon for regular unleaded gasoline, which is 15 cents more than a week ago.

Monday’s average is also 13 cents more than a month ago, but 41 cents less than this time last year. It now costs $50.55 to fill a 15-gallon tank of regular gasoline. Drivers are now paying $6.00 less to fill up at the pump compared to a year ago.  

Local averages Monday morning were $3.34 in Floyd and Polk Counties, $3.35 in Gordon and Chattooga Counties, and $3.37 in Bartow County.

“In response to OPEC’s announcement last week crude oil rose over $80 a barrel,” said Montrae Waiters, AAA-The Auto Club Group spokeswoman. “This has led to the price of oil stabilizing for now, but the cost of oil accounts for more than 50% of what we pay at the pump, so Georgians may not catch a break at the pump any time soon.”

OPEC Surprise Leads to Higher Gas Prices

Since last Monday, the national average for a gallon of regular gasoline has increased by 10 cents to $3.60 (subject to change overnight). According to data from the Energy Information Administration (EIA), gas demand increased slightly from 9.15 to 9.3 million barrels a day last week. Meanwhile, total domestic gasoline stocks decreased substantially by 4.1 million barrels to 222.6 million barrels. Increased demand amid tighter supply has contributed to pushing pump prices higher. If demand continues to rise, pump prices will likely follow suit.